U.S. economy sped up in the first quarter thanks to an AI boom that shows no sign of slowing
The U.S. economy grew at a 2% annual rate in the first quarter, driven by a boom in artificial intelligence. Gross domestic product was also aided by a rebound in federal government spending after a record-long shutdown.
The U.S. economy grew at a 2% annual rate in the first quarter. Gross domestic product was driven by a boom in artificial intelligence and a rebound in federal government spending. Consumer spending cooled slightly in the first three months of the year. The AI boom appears to be gathering steam with no sign of slowing. The federal government's spending rebounded after a record-long shutdown in the fall.
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